Qualification shares, Business Law and Ethics

Assignment Help:

Qualification Shares:

S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.

Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).

2. S.186 : Age Limit

S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-

a) He has not attained the age of twenty-one; or

b) b) he has attained the age of seventy.


Related Discussions:- Qualification shares

State the royal assent for the procedure of parliamentary, State the royal ...

State the royal assent for the procedure of parliamentary. The Royal Assent: It is specified when the Bill has passes by both Houses successfully and is usually simply fo

Intention - element of contract, Intention - Element of Contract Moreo...

Intention - Element of Contract Moreover to an agreement to constitute a contract then the parties thereto must have intended it for have legal consequences.  Subsequently an

Define the term - credibility and reputation, Define the term - Credibility...

Define the term - Credibility and Reputation Nature and characteristic of the environment in which a policy has been chosen has a number of important implications. As we have a

Determine the kinds of advocacy tactics, Determine the kinds of advocacy ta...

Determine the kinds of advocacy tactics The kinds of advocacy tactics employed by policy entrepreneurs in setting agendas and generating support for their proposals may often

Write about constitutional validity of the drt act, Question1 Clayton's ca...

Question1 Clayton's case is considered to be one of the most essential legal decisions in banking laws that established the principle of the order of application of credits agains

Accuracy of the managers certificate, Accuracy of the managers certificate:...

Accuracy of the managers certificate: Was it the duty of the auditors to test the accuracy of the manager's certificate by a comparison of the figures in the books, and were t

Winding-up, Winding-Up:    (a) A company is dissolved, i.e. ceases t...

Winding-Up:    (a) A company is dissolved, i.e. ceases to exist, when its name is removed from the register.  It is usually necessary, before it can be dissolved, to liquida

District magistrate''s court, District Magistrate's Court Establishm...

District Magistrate's Court Establishment Further District Magistrate's Courts are established to each district in England thgrough S.7(1) of the Magistrate's Courts Ac

Parol evidence rule, 1. How do mandatory terms limit freedom of contract? ...

1. How do mandatory terms limit freedom of contract? 2. How do contract interpretation issues arise? 3. What is the difference between subjective and objective intent?   4

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd